Plenitude, through its U.S. subsidiary Eni New Energy US, has signed an agreement to acquire a 49% stake in a 500-megawatt (MW) solar and storage portfolio in California from EDP Renewables North America (EDPR NA). The portfolio includes the Sandrini 100 solar plant (141 MW dc), the Sandrini 200 solar plant (266 MW dc), and the Sandrini battery plant (368 MWh), with a total installed capacity of approximately 499 MW dc. Plenitude's share of the portfolio will correspond to 245 MW dc.
Stefano Goberti, CEO of Plenitude, expressed the strategic importance of the acquisition: “Through this transaction, we position ourselves in the California market, one of the most relevant for the development of renewables, further diversifying Plenitude's presence in the United States and confirming our commitment to invest in electric storage systems. Thanks to this acquisition, we reach a total installed capacity in the country of about 1.7 GW.
EDPR NA CEO Sandhya Ganapathy highlighted the significance of the deal in strengthening North American energy infrastructure: “Our valued partnership with Plenitude underscores EDPR NA's commitment to bolstering energy infrastructure throughout North America through the development of additional solar and storage capacity in an effort to create a more reliable and resilient grid.
Plenitude, controlled by Eni, operates in more than 15 countries and integrates electricity production from 4 GW of renewable capacity. The company aims to expand its global renewable capacity to 8 GW by 2027. EDPR NA, a leading player in North America's renewable energy sector, owns and operates over 11 GW of wind, solar, and storage capacity and has developed more than 12 GW of projects across the region.
